What is Banking Ordinance?

Legal Definition
The Banking Ordinance is a set of laws passed by the Legislative Council of Hong Kong to tighten restrictions for opening up or licensing a bank. Prior to the 1964 re-regulations, the government had no way to control bank's monetary effect on the economy. It also had no way of protecting the people utilizing the institutions. Banking was considered a Laissez-faire network, and was also described as "Free Banking" or "Wildcat Banking" filled with much uncertainty.
-- Wikipedia
Legal Definition
Acts passed in legislation of Hong Kong that increase licensing restrictions for banks. It protects the free banking system. The four acts passed in 1948, 1964, 1967, and 1986.